Morgan Stanley set a $23.00 target price on Newell Brands (NYSE:NWL) in a research report released on Tuesday morning. The firm currently has a hold rating on the stock.
Other equities research analysts also recently issued research reports about the company. Deutsche Bank reduced their target price on Newell Brands to $23.00 and set a hold rating on the stock in a report on Tuesday, August 7th. BMO Capital Markets reduced their target price on Newell Brands from $25.00 to $20.00 and set a market perform rating on the stock in a report on Monday. Citigroup reduced their target price on Newell Brands from $36.00 to $29.00 and set a buy rating on the stock in a report on Wednesday, August 8th. Bank of America reduced their target price on Newell Brands from $30.00 to $25.00 and set a neutral rating on the stock in a report on Tuesday, August 7th. Finally, ValuEngine raised Newell Brands from a sell rating to a hold rating in a report on Thursday, November 1st. Thirteen analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Newell Brands has a consensus rating of Hold and an average target price of $26.60.
Newell Brands stock opened at $20.17 on Tuesday. Newell Brands has a one year low of $15.11 and a one year high of $32.58. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.44 and a current ratio of 2.87. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 7.34, a P/E/G ratio of 1.47 and a beta of 0.82.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, November 2nd. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.55. Newell Brands had a positive return on equity of 9.51% and a negative net margin of 46.92%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the company earned $0.86 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that Newell Brands will post 2.65 earnings per share for the current fiscal year.
In other news, CEO Michael B. Polk acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average price of $20.63 per share, with a total value of $206,300.00. Following the acquisition, the chief executive officer now directly owns 941,951 shares in the company, valued at approximately $19,432,449.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NWL. Pzena Investment Management LLC acquired a new stake in shares of Newell Brands during the 2nd quarter valued at $427,655,000. Wells Fargo & Company MN boosted its holdings in shares of Newell Brands by 90.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,843,491 shares of the company’s stock valued at $47,544,000 after acquiring an additional 877,661 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Newell Brands by 241.2% during the 2nd quarter. First Trust Advisors LP now owns 1,178,641 shares of the company’s stock valued at $30,397,000 after acquiring an additional 833,230 shares in the last quarter. AMS Capital Ltda acquired a new stake in shares of Newell Brands during the 2nd quarter valued at $12,895,000. Finally, OppenheimerFunds Inc. boosted its holdings in shares of Newell Brands by 5.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 9,095,209 shares of the company’s stock valued at $234,565,000 after acquiring an additional 462,697 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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